Ripple’s Chief Technology Officer, David Schwartz, has recently delved into discussions surrounding the missing of genesis block on the XRP Ledger (XRPL). Drawing parallels with Ethereum’s genesis block, Schwartz aims to shed light on the situation and reassure the XRP community.
XRPL’s Start Like Ethereum’s Genesis
In a conversation with an XRP community member, MetaMan, David Schwartz drew attention to parallels between the beginnings of the XRPL and Ethereum’s genesis block. He explained that, just like XRPL, Ethereum also had transactions happening before it officially began, and these transactions are not publicly recorded.
Schwartz used a specific example, questioning the origins of a 2,622 ETH transaction on August 3, 2016, in Ethereum’s early days. Meanwhile, this comparison aimed to highlight that such instances of transactions preceding the official start are not unique to the XRP Ledger.
Additionally, Schwartz acknowledged a significant transfer of 40,000 ETH during Ethereum’s genesis block. However, he pointed out that the origins of these funds lack transparency, attributing it to decisions made in defining Ethereum’s genesis block.
He further argued that such decisions, including XRPL’s initiation at ledger 32,569, are arbitrary and may not necessarily indicate any wrongdoing.
Missing XRPL Genesis Ledgers
The discussion about the XRPL’s genesis block has been ongoing, with some people raising questions about how XRP is shared and worrying about missing ledgers numbered 1 to 32,570.
David Schwartz, a key figure at Ripple, has consistently given technical explanations about the early days of the ledger. He shared that when the XRPL started, there were some problems, like bugs, especially in the first week. They were working hard to fix these bugs regularly.
One bug caused a big issue – it led to the XRPL losing important information called ledger headers. Despite their best efforts, they couldn’t recover all the info because of data loss from ledger 1 to 32,570. Schwartz wanted to assure users that these missing ledgers didn’t have any important info for regular XRPL users.
Schwartz explained that the XRPL issue was simply a mistake because of a bug, not Ripple trying to hide anything about how they shared XRP. However, he wanted to make it clear that when they had to fix things and restart in the early days, they didn’t create a new XRP; the original 100 billion XRP supply stayed the same.
Boosting Confidence in XRP
This shows how David Schwartz, is committed to addressing concerns and building trust in the cryptocurrency community. Leaders like Schwartz play a crucial role in maintaining confidence in blockchain technologies.
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- Source: https://coinpedia.org/news/ripple-cto-david-schwartz-solves-the-xrpl-genesis-1-32569-block-mystery/
